Welcome to our dedicated page for Ferguson Enterprises news (Ticker: FERG), a resource for investors and traders seeking the latest updates and insights on Ferguson Enterprises stock.
Ferguson plc (formerly Wolseley plc) is a leading multinational distributor of plumbing and heating products, headquartered in Wokingham, England. With a strong presence in the United States, the company operates under the brand name Ferguson Enterprises in North America.
Ferguson primarily supplies products for plumbing, HVAC, and other building services, catering to markets like repair, maintenance, improvement, new construction, and civil infrastructure. It serves over 1 million customers and sources its extensive range of products from 37,000 suppliers.
The company engages its clientele through approximately 1,700 North American branches, telephone services, online platforms, and residential showrooms. In fiscal 2023, Ferguson reported nearly $30 billion in sales, with 95% of its revenue generated in the United States.
Recognized by Modern Distribution Management as North America's largest industrial and construction distributor, Ferguson has sold its UK business in 2021 to focus solely on the North American market.
Ferguson continues to achieve significant milestones and forge strategic partnerships, continuously enhancing its product offerings and market reach. The company's focus on customer-centric services and innovative solutions positions it as a key player in the industry.
Ferguson plc (NYSE:FERG) announced the purchase of 105,128 ordinary shares on March 13, 2023, as part of its $2.5 billion share repurchase program. The company purchased shares across different trading venues, including BATE, CHIX, and XLON, with an aggregate daily volume of 26,050, 24,090, and 54,988 shares, respectively, at a weighted average purchase price of $11,100 each. Following these transactions, Ferguson will hold 26,522,510 shares in treasury, leaving 205,648,672 ordinary shares outstanding, which shareholders can use for calculating interests under the Disclosure Guidance and Transparency Rules.
Ferguson PLC announced on March 16, 2023, that James Metcalf, a Non-Executive Director, has been awarded 232 restricted stock units under the Ferguson Non-Employee Director Incentive Plan 2022. The award, granted without payment or performance conditions, will vest on October 2, 2023, contingent upon continued service. This information is disclosed under the EU Market Abuse Regulation. The restricted stock units are part of a broader strategy to align the interests of directors with those of shareholders, but the total impact on shareholder equity and company performance remains to be evaluated.
Ferguson plc announced a continuation of its $2.5 billion share repurchase program through an arrangement with Barclays, starting March 15, 2023, and concluding by June 15, 2023. The current tranche allocates £160 million, with total repurchases not exceeding $2.5 billion. Shareholder authority permits up to 20,845,062 shares to be bought back. The initiative aims to reduce the company's capital and potentially fulfill future share awards. Repurchases will occur on the London and New York Stock Exchanges, complying with relevant regulations.
Ferguson plc (NYSE:FERG) announced the purchase of 300,864 ordinary shares as part of its ongoing $2.5 billion share repurchase program from March 6 to March 10, 2023. The purchases included varying daily volumes, with the highest being 57,292 shares at an average price of 11,325.0000 on March 10. Post-repurchase, Ferguson will hold 26,417,382 shares in treasury while the remaining shares in circulation will be 205,753,800. These figures are relevant for shareholders to assess interest notification obligations.
Ferguson plc has filed its Form 10-Q with the U.S. SEC on March 8, 2023. The filing is accessible through the SEC's website and the Company’s investor relations page. Ferguson, a leader in value-added distribution in North America, offers a variety of products and services across infrastructure, plumbing, HVAC, and more. The company aims to simplify complex projects for its customers, focusing on sustainability and success. For additional information, stakeholders can visit Ferguson's corporate site or their LinkedIn page.
Ferguson plc (NYSE:FERG) has conducted a share repurchase program, purchasing 73,231 ordinary shares between February 27 and March 3, 2023, as part of its $2.5 billion initiative. The share repurchase aims to enhance shareholder value. The company now holds 26,116,518 shares in treasury, with a remaining 206,054,664 ordinary shares in circulation. The announcement complies with the Market Abuse Regulation and includes detailed information on individual purchases. For more inquiries, contact investor relations.
Ferguson reported a 4.9% increase in net sales to $6.8 billion in Q2 2023, backed by 2.7% organic growth and contributions from acquisitions. Gross margin was 30.2%, slightly down from last year, with operating margins at 8.0%. The diluted earnings per share (EPS) were $1.80, reflecting an 8.6% decrease. Notably, the company declared a quarterly dividend of $0.75, marking a 9% annual increase. Ferguson completed four acquisitions with combined annual revenues of approximately $300 million. The strong cash generation supported share buybacks of $198 million, and net debt to adjusted EBITDA stood at 1.1x.
Ferguson PLC has reported its total voting rights and share capital as of February 28, 2023. The company has issued 232,171,182 ordinary shares, with 26,071,119 shares held in treasury. This results in a total of 206,100,063 voting rights available to shareholders. These figures are crucial for shareholders to determine if they need to notify any changes in their interest under the FCA's Disclosure Guidance and Transparency Rules. The notification aims to ensure transparency in shareholder voting rights.
Ferguson plc (NYSE:FERG) reported that it repurchased 203,326 ordinary shares between February 20-24, 2023, as part of its $2.5 billion share repurchase program. The average purchase prices varied across trading days, with the highest at 12,155.0000 and the lowest at 11,806.0744. Following these transactions, the company will hold 26,043,287 shares in treasury. The total number of ordinary shares in issue is now 206,127,895, which shareholders may use to calculate their interests under regulatory guidelines. Ferguson aims to utilize these shares for strategic business purposes.
Ferguson plc (NYSE:FERG) announced a purchase of 53,248 ordinary shares between February 13 and February 16, 2023, as part of its $2.5 billion share repurchase program. The shares were acquired at various weighted average prices, with the first day's purchase at $12,005.72 and the last at $12,341.66. Following these transactions, Ferguson will hold a total of 25,839,961 shares in treasury, leaving 206,331,221 ordinary shares outstanding. This share reduction can impact shareholder calculations regarding notifications under the Disclosure Guidance and Transparency Rules.
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